Chapter 40, PENSIONS

(40 ILCS 5/22C-122) Sec. 22C-122. Investment authority. The Fund shall have the authority to invest funds, subject to the requirements and restrictions set forth in Sections 1-109, 1-109.1, 1-109.2, 1-110, 1-111, 1-114, and 1-115 of this Code. The Fund shall not be subject to any…

(40 ILCS 5/22C-123) Sec. 22C-123. Custodian. The pension fund assets transferred to or otherwise acquired by the Fund shall be placed in the custody of a custodian who shall provide adequate safe deposit facilities for those assets and hold all such securities, funds, and other a…

(40 ILCS 5/22C-124) Sec. 22C-124. Accounting for pension fund assets. In the management of the pension fund assets of the transferor pension funds, the Fund: (1) shall carry all pension fund assets at fair market value determined in accordance with generally accepted accounting p…

(40 ILCS 5/22C-125) Sec. 22C-125. Audits and reports. (a) At least annually, the books, records, accounts, and securities of the Fund shall be audited by a certified public accountant selected by the board and conducted in accordance with the rules and procedures promulgated by t…

(40 ILCS 5/23-101) (from Ch. 108 1/2, par. 23-101) Sec. 23-101. Purpose-Savings provisions. It is the purpose of this Code to restate, simplify and codify the respective Acts and parts of Acts repealed by Section 23-102 which immediately prior to the effective date of this Code g…

(40 ILCS 5/23-102) (from Ch. 108 1/2, par. 23-102) Sec. 23-102. Repeal. The following Acts and parts of Acts are repealed except as provided in Section 23-103: (1) Divisions 6 through 12, inclusive, of Article 10 of the "Illinois Municipal Code", approved May 29, 1961, as amended…

(40 ILCS 5/23-103) (from Ch. 108 1/2, par. 23-103) Sec. 23-103. Construction. Nothing in this Code shall be construed to repeal any section of the various Acts of which this Code is comprised when such section is the subject of an amendment enacted by the Seventy-third General As…

(40 ILCS 5/24-101) (from Ch. 108 1/2, par. 24-101) Sec. 24-101. Notwithstanding any law to the contrary, the State of Illinois or any unit of local government or school district may enter into a written contract with any of its employees to defer a part of their gross compensatio…

(40 ILCS 5/24-102) (from Ch. 108 1/2, par. 24-102) Sec. 24-102. As used in this Article, "employee" means any person, including a person elected, appointed or under contract, receiving compensation from the State or a unit of local government or school district for personal servi…

(40 ILCS 5/24-103) (from Ch. 108 1/2, par. 24-103) Sec. 24-103. The deferred compensation program established by this Article shall exist and serve in addition to other retirement, pension and benefit systems established by the State, units of local government or school districts…

(40 ILCS 5/24-104) (from Ch. 108 1/2, par. 24-104) Sec. 24-104. State Employees Deferred Compensation Plan. In this Section, "Plan" means the State Employees Deferred Compensation Plan. The Illinois State Board of Investment created under Article 22A of this Act shall develop and…

(40 ILCS 5/24-104.1) (from Ch. 108 1/2, par. 24-104.1) Sec. 24-104.1. The Plan developed under Section 24-104 shall also provide for the recovery of the expenses of its administration by charging such expenses against the earnings from investments or by charging fees equitably pr…

(40 ILCS 5/24-104.2) Sec. 24-104.2. Health care providers; tax-exempt status. Health care providers may participate in the Illinois State Employees Deferred Compensation Plan to the extent that the health care providers' participation does not interfere with the Plan's tax-exempt…

(40 ILCS 5/24-105) (from Ch. 108 1/2, par. 24-105) Sec. 24-105. The State Employees Deferred Compensation Plan shall be administered by the Department of Central Management Services subject to the general supervision of the Illinois State Board of Investment. Participation in suc…

(40 ILCS 5/24-105.1) Sec. 24-105.1. Changes in federal law. (a) To the extent that federal law or regulations which require a governmental employer to own the assets of its deferred compensation plan are changed to allow plans established under Section 457 of the Internal Revenue…

(40 ILCS 5/24-105.2) Sec. 24-105.2. Automatic enrollment for certain employees. The Department of Central Management Services shall automatically enroll in the State Employees Deferred Compensation Plan any employee who, on or after July 1, 2020, becomes an active member or parti…

(40 ILCS 5/24-106) (from Ch. 108 1/2, par. 24-106) Sec. 24-106. The State or the unit of local government or school district under a deferred compensation program shall be obligated at any point in time solely for the then current value of the particular fixed or variable life in…

(40 ILCS 5/24-107) (from Ch. 108 1/2, par. 24-107) Sec. 24-107. Local government plans. (a) Any unit of local government or school district may establish for its employees a deferred compensation plan. Participation shall be by written agreement between each employee and the legi…

(40 ILCS 5/24-108) (from Ch. 108 1/2, par. 24-108) Sec. 24-108. In the event that any fireman is transferred to a municipal fire department as a consequence of the absorption of a fire protection district occurring prior to January 1, 1980, and such fireman has entered into a def…

(40 ILCS 5/24-109) (from Ch. 108 1/2, par. 24-109) Sec. 24-109. Football Coaches. (a) Any football coach employed by the Board of Trustees of Chicago State University, the Board of Trustees of Eastern Illinois University, the Board of Trustees of Governors State University, the B…

(40 ILCS 10/0.01) (from Ch. 108 1/2, par. 100) Sec. 0.01. Short title. This Act may be cited as the Deferred Compensation Continuing Appropriation Act. (Source: P.A. 86-1324.)

(40 ILCS 15/0.1) (from Ch. 108 1/2, par. 250.1) Sec. 0.1. Short title. This Act may be cited as the State Pension Funds Continuing Appropriation Act. (Source: P.A. 87-1265.)

(40 ILCS 10/1) (from Ch. 108 1/2, par. 101) Sec. 1. For the purpose of making disbursements for distributions, refunds and investments, if any, in accordance with the State Employees Deferred Compensation Plan established under Section 24-104 of the Illinois Pension Code, but not…

(40 ILCS 15/1) Sec. 1. Appropriations from State Pensions Fund. (a) For the purpose of making up any deficiency in the appropriations to the designated retirement systems that are required to be made under Section 8.12 of the State Finance Act, there is hereby appropriated, on a …

(40 ILCS 15/1.1) Sec. 1.1. Appropriations to certain retirement systems. (a) There is hereby appropriated from the General Revenue Fund to the General Assembly Retirement System, on a continuing monthly basis, the amount, if any, by which the total available amount of all other a…

(40 ILCS 15/1.2) Sec. 1.2. Appropriations for the State Employees' Retirement System. (a) From each fund from which an amount is appropriated for personal services to a department or other employer under Article 14 of the Illinois Pension Code, there is hereby appropriated to tha…

(40 ILCS 15/1.3) Sec. 1.3. Appropriations for the Teacher Health Insurance Security Fund. Beginning in State fiscal year 1996, there is hereby appropriated, on a continuing annual basis, from the General Revenue Fund to the State Comptroller for deposit into the Teacher Health In…

(40 ILCS 15/1.4) Sec. 1.4. Appropriations for the Community College Health Insurance Security Fund. Beginning in State fiscal year 1999, there is hereby appropriated, on a continuing annual basis, from the General Revenue Fund to the State Comptroller for deposit into the Communi…

(40 ILCS 15/1.6) Sec. 1.6. Appropriations for early retirement programs. (a) There is hereby appropriated from the General Revenue Fund to the State Employees' Retirement System of Illinois, on a continuing annual basis in each of State fiscal years 2004 through 2015, the amount,…

(40 ILCS 15/1.7) Sec. 1.7. Appropriations from the Pension Stabilization Fund. (a) All of the moneys deposited or transferred from time to time into the Pension Stabilization Fund are hereby appropriated, on a continuing basis, to the State Comptroller for the purpose of making d…

(40 ILCS 15/1.8) Sec. 1.8. Suspension of appropriations for fiscal year 2011. Notwithstanding any other provision of this Act, no appropriation otherwise required from the General Revenue Fund or the Common School Fund under this Act is required to be made prior to September 30, …

(40 ILCS 15/1.9) Sec. 1.9. Appropriations for State Pension Obligation Acceleration Bonds. If for any reason the aggregate appropriations made available are insufficient to meet the levels required for the payment of principal and interest due on State Pension Obligation Accelera…

(40 ILCS 15/2) Sec. 2. This Act shall take effect upon becoming law. (Source: P.A. 87-923.)